OTC Markets Group Welcomes Marpai, Inc. to OTCQX

Rhea-AI Summary

OTC Markets Group has announced that Marpai, an independent Third-Party Administration (TPA) company, has qualified to trade on the OTCQX Best Market under the symbol 'MRAI.' Previously trading on NASDAQ, Marpai's transition aims to provide U.S. investors with efficient and cost-effective access to capital markets. OTCQX requires companies to meet high financial standards, adhere to corporate governance best practices, and comply with securities laws. Damien Lamendola, Marpai's CEO, highlighted that this move will enhance transparency, increase institutional visibility, and significantly reduce public company expenses.

Positive

• Marpai has transitioned to the OTCQX Best Market, known for high financial standards.
• Trading on OTCQX is expected to reduce public company expenses for Marpai.
• The move is designed to increase visibility among institutional investors and analysts.
• Marpai’s commitment to transparency and shareholder value is emphasized.

Negative

• Marpai is no longer trading on NASDAQ, which may be perceived as a downgrade by some investors.
• Potential risks associated with the transition to a less prominent market should be considered.
• The long-term impact on stock liquidity and investor confidence remains uncertain.

NEW YORK, May 29, 2024 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Marpai, Inc. (OTCQX: MRAI), an independent national Third-Party Administration (TPA) company, has qualified to trade on the OTCQX® Best Market. Marpai, Inc. previously traded on NASDAQ.

Marpai, Inc. begins trading today on OTCQX under the symbol “MRAI.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

Trading on the OTCQX Market offers companies efficient, cost-effective access to the U.S. capital markets. Streamlined market requirements for OTCQX are designed to help companies lower the cost and complexity of being publicly traded, while providing transparent trading for their investors. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

Commenting on the change, Damien Lamendola, CEO of Marpai said, “We are thrilled that Marpai will transition to trading on OTCQX. This shift reflects our commitment to transparency, shareholder value, and meeting the highest standards for financial reporting. OTCQX will ensure continued visibility among institutional investors and analysts, which will ultimately translate into benefits for our shareholders. This change also represents a significant reduction in our public company expenses.”

About Marpai, Inc.
Marpai, Inc. is a leading, national TPA company bringing value-oriented health plan services to employers that directly pay for employee health benefits. Primarily competing in the $22 billion TPA sector serving self-funded employer health plans representing over $1 trillion in annual claims. Through its Marpai Saves initiative, the Company works to deliver the healthiest member population for the health plan budget. Operating nationwide, Marpai offers access to leading provider networks including Aetna and Cigna and all TPA services.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market.

Our OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

FAQ

What is the new trading symbol for Marpai on OTCQX?

The new trading symbol for Marpai on OTCQX is 'MRAI.'

Why did Marpai transition from NASDAQ to OTCQX?

Marpai transitioned to OTCQX to reduce public company expenses, enhance transparency, and increase visibility among institutional investors.

What benefits does trading on OTCQX offer to Marpai?

Trading on OTCQX offers cost-effective access to U.S. capital markets, reduced complexity, and transparent trading for investors.

When did Marpai begin trading on OTCQX?

Marpai began trading on OTCQX on May 29, 2024.

Where can investors find financial disclosures and real-time quotes for Marpai?

Investors can find financial disclosures and real-time quotes for Marpai on www.otcmarkets.com.